The board approved the issuance of the debentures in one or more series to mutual funds, banks, corporate bodies or other agencies, at its meeting held on Monday, the company informed the Bombay Stock Exchange.

The meeting approved issuing medium term non-convertible debentures up to Rs 1,400 crore and short term non-convertible debentures up to an amount of Rs 2,500 crore, subject to a limit of Rs 600 crore of debentures outstanding at any point in time, it added.